197
197
Dec 21, 2012
12/12
by
CNBC
tv
eye 197
favorite 0
quote 0
greece does not have an exit. citigroup had a 90% chance earlier this year. the biggest day of this jurn year was june 17th when they elected a moderate who did not try to pull greece out. and germany stepped up and gave them some money and that september the 6th, that was the european central bank. so you had china, maria, the united states and greece. none of them went off the cliff. maria, this is for you. our little christmas present for you, maria. >> thank you. thank you. >> we want to remember, by the way, this is emblem attic of all these nice things you have said this week for the victims of the newtown connecticut tragedy. we love the way you all have been strong in support of them. >> thank you. i very much appreciate that. michael, let me ask you, what do you want to be avoiding in 2013? >> i think you have to look at it from the standpoint of extreme. it's clearly in the bond market. it's clearly in the love for dividends. it's clearly in the love for income versus capital appreciation, versus cycle kral. i call this the rocky balboa stock market
greece does not have an exit. citigroup had a 90% chance earlier this year. the biggest day of this jurn year was june 17th when they elected a moderate who did not try to pull greece out. and germany stepped up and gave them some money and that september the 6th, that was the european central bank. so you had china, maria, the united states and greece. none of them went off the cliff. maria, this is for you. our little christmas present for you, maria. >> thank you. thank you. >>...
187
187
Dec 21, 2012
12/12
by
CNBC
tv
eye 187
favorite 0
quote 0
what does greece have? they have a lot longer fuse than a time bomb. >> still a telling comparison quarterback nevertheless. coming up on "worldwide exchange," don't go anywhere. in an exclusive interview, jean-claude trichet tells stephane pedrazzi why markets need to be more upbeat. >>> take a look at samsung shares. they are down. sherry, what's going on? >> hi, kelly. investors were worried about news that eu regulators are getting ready to accuse samsung electronics of breaking competition rules when it filed its patent lawsuits against rival apple. now, the commission is saying samsung should have tried to license its patents on fair, reasonable and nondiscriminatory terms before launching any sales claims against apple and this may explain why apple dropped those claims earlier this week. now, the eu's probe has been underweight since january. many analysts say the eu's move had been spented. samsung's withdraw came on the heels of a california judge's refusal to block sales of dozens of samsung's mo
what does greece have? they have a lot longer fuse than a time bomb. >> still a telling comparison quarterback nevertheless. coming up on "worldwide exchange," don't go anywhere. in an exclusive interview, jean-claude trichet tells stephane pedrazzi why markets need to be more upbeat. >>> take a look at samsung shares. they are down. sherry, what's going on? >> hi, kelly. investors were worried about news that eu regulators are getting ready to accuse samsung...
180
180
Dec 27, 2012
12/12
by
CNBC
tv
eye 180
favorite 0
quote 0
it will remind me of greece. greece is getting bailed out. and going on back and forth. will there be a deal by december 31st? i don't think so, but if a deal gets penned out by mid-january, we can look forward to focusing on earnings and get this fiscal cliff over with so we can see what's going on important in the world, and that's earnings. >> let me -- can i comment on that? >> yeah, sure. >> i want to comment on rick santelli's optimistic view that maybe there really is a deal in the offing. he has a point, you know. it's not over, you know, until it's over and these guys do sometimes come up with last-minute deals, but i want to be very clear. in order for that to happen john boehner basically has to agree that he's going to get a deal out of house with majority democrat votes, and i don't see why he does that before january 3rd. >> you're assuming the president has all the leverage, and i think the president would have a horrible legacy starting out with such turmoil, so i disagree. i think there's movement on the white house side on entitlements. >> rick, you do
it will remind me of greece. greece is getting bailed out. and going on back and forth. will there be a deal by december 31st? i don't think so, but if a deal gets penned out by mid-january, we can look forward to focusing on earnings and get this fiscal cliff over with so we can see what's going on important in the world, and that's earnings. >> let me -- can i comment on that? >> yeah, sure. >> i want to comment on rick santelli's optimistic view that maybe there really is a...
203
203
Dec 19, 2012
12/12
by
CNBC
tv
eye 203
favorite 0
quote 0
greece got upgraded today. who would have thought it. that is what the market is looking at. saying okay. it is not going to be the worst kcase sharcenario, but you coul extend the middle class tax cuts and be done with it. it is in a recession. >> and i think the market would not like that very much. everybody is expecting that you get the middle class tax cuts done. >> and if you can get china and europe doing better. it is hard to be terribly bearish on the u.s. >> y are going to stay with our politico expert. this is a rally that has surprised experts. it hasn't been that easy to be optimistic. >> it is. i think you have to be cautious here. the probability that this could fall apart is very, very real. >> so, you have to be careful up at these levels as a trader. i have low exposure up here. i have protection. that is how you have to play this market. stay with us please. >> yesterday it looked like washington was inching towards a deal. but today, plan b could be signaling differences. we have karen b and sara fagan herself a former political director. i know what it me
greece got upgraded today. who would have thought it. that is what the market is looking at. saying okay. it is not going to be the worst kcase sharcenario, but you coul extend the middle class tax cuts and be done with it. it is in a recession. >> and i think the market would not like that very much. everybody is expecting that you get the middle class tax cuts done. >> and if you can get china and europe doing better. it is hard to be terribly bearish on the u.s. >> y are...
223
223
Dec 3, 2012
12/12
by
CNBC
tv
eye 223
favorite 0
quote 0
i think greece is probably too small to view. i think what really bothers me is spain which i think clearly bothers the whole market. the question, a growth going to fall off a cliff or whether it muddle through and a bailout will be sufficient. as you say, we don't know the answer to that question. that remains the tail risk. until we do get close to a resolution, i'm not going to turn massively bullish. >> what's your view on that? >> i think i go along very much with what he's saying. >> what is your view on what happens to spanish growth? >> i think spain has a lot of problems at the moment. it's not seeing a lot in the domestic market. not seeing it move toward an export. in which case spanish growth is going to be very, very weak for some time to come. >> all right. good to see you. thanks very much. alan will stick around. time to bring you today's global markets report. let's go to asia for the update. >> that upbeat pmi data failed to lift greater china markets. there is pessimism over general lack of policy and also fea
i think greece is probably too small to view. i think what really bothers me is spain which i think clearly bothers the whole market. the question, a growth going to fall off a cliff or whether it muddle through and a bailout will be sufficient. as you say, we don't know the answer to that question. that remains the tail risk. until we do get close to a resolution, i'm not going to turn massively bullish. >> what's your view on that? >> i think i go along very much with what he's...
207
207
Dec 28, 2012
12/12
by
CNBC
tv
eye 207
favorite 0
quote 0
greece's banks in fresh capital were gop going to go down to central bank. national bank, euro bank, alfa and peres need the money to close ratios following last week. greece confirmed that the 50 billion euros set aside for recapitalization will be enough to capture these shortfalls. stephane pedrazzi asked the ecb jean-claude trichet about greece. >> i think it is absolutely clear that out of the fears of the global observers have proved unfounded. i was always confivinced that i was unfounded that the assumption that they could leave the euro area, that they could refeud the adjustment which is necessary were wrong assumptions. and now we see and of course it's difficult, of course it's hard, it's tough. but people have to make adju adjustments which are very, very difficult. but, again, we are going in the right direction. again, it's very difficult. it goes in the right direction. >> you don't believe in the scenario for greek exit? >> no.. it's precisely because it appears very clearly that neither the greek people nor the greek government nor all peer
greece's banks in fresh capital were gop going to go down to central bank. national bank, euro bank, alfa and peres need the money to close ratios following last week. greece confirmed that the 50 billion euros set aside for recapitalization will be enough to capture these shortfalls. stephane pedrazzi asked the ecb jean-claude trichet about greece. >> i think it is absolutely clear that out of the fears of the global observers have proved unfounded. i was always confivinced that i was...
253
253
Dec 13, 2012
12/12
by
CNBC
tv
eye 253
favorite 0
quote 0
sylvia, a torturous route for greece. are they finally going to get this money? if so, what does that change. >> well, it at least gives them a bit of breathing space. it doesn't change anything in terms of the overall dismal situation of the country. there was a letter of the german finance minister yesterday, written so it is by one of the deputies to the german bundes stock where he basically said, we are ready to sign up the next package for greece. this has not been confirmed or denied by the finance ministry, so it seems that that's the determination. it looks like it, anyway. we know that the one linchpin is indeed the set buyback program. it kind of falls short of expectations. but i'm sure they're going to make it enough of a success to sign the check tonight or tomorrow if it's the heads of state doing it. but the expectations that the euro group meeting that is in session right now is the one that will dispense the money or will decide to disexpense the money. never mind who signs on the bottom line and indeed the great delegation goes home at least to
sylvia, a torturous route for greece. are they finally going to get this money? if so, what does that change. >> well, it at least gives them a bit of breathing space. it doesn't change anything in terms of the overall dismal situation of the country. there was a letter of the german finance minister yesterday, written so it is by one of the deputies to the german bundes stock where he basically said, we are ready to sign up the next package for greece. this has not been confirmed or...
243
243
Dec 20, 2012
12/12
by
CNBC
tv
eye 243
favorite 0
quote 1
i think we can be a bit less worried about greece next year than we can be this year, for example, as well as in spain the government is considering a variety of reform efforts. indeed, despite the exchange in governments we had this year, it's the french deposit. when we look at it in aggregate, i think the tailwinds are starting to overcome the headwinds. the headwinds are still going to be there. the fiscal one is very important. there are still going to be risks on the european side. there's still the geopolitics which, of course, we can't ignore here. but in aggregate, i think those tailwinds are starting to get more traction and that's particularly becoming true in the u.s. housing market. >> what's interesting to that point is that we're coming to a year where even some of those concern are going away. central banks are starting to get extraordinarily accommodative. i wonder if their measures haven't been too back end loaded. certainly when you look at japan, it has pursued cycles earlier and had more impact. what about the sense ta whether it's the fed, whether it's the bank o
i think we can be a bit less worried about greece next year than we can be this year, for example, as well as in spain the government is considering a variety of reform efforts. indeed, despite the exchange in governments we had this year, it's the french deposit. when we look at it in aggregate, i think the tailwinds are starting to overcome the headwinds. the headwinds are still going to be there. the fiscal one is very important. there are still going to be risks on the european side....
190
190
Dec 13, 2012
12/12
by
CNBC
tv
eye 190
favorite 0
quote 0
every time something comes out, much like rumors out of greece. >> you guys hopeful on the floor that we get a deal sometime soon? >> you may not get a finalized deal but you'll get something done before the year end which will give us confidence to keep the market stabilized. >> members of the house tomorrow go home tomorrow for christmas. can you get a deal if they are home? >> i think you can. i think it's a little more di
every time something comes out, much like rumors out of greece. >> you guys hopeful on the floor that we get a deal sometime soon? >> you may not get a finalized deal but you'll get something done before the year end which will give us confidence to keep the market stabilized. >> members of the house tomorrow go home tomorrow for christmas. can you get a deal if they are home? >> i think you can. i think it's a little more di
229
229
Dec 10, 2012
12/12
by
CNBC
tv
eye 229
favorite 0
quote 0
so greece has its financing for next year. after that, it's a very big open question. >> bob parker from credit suisse, thank you so much for all your time and thoughts this morning. stick around. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on grou at fedex office. >>> welcome to "worldwide exchange." i'm kelly evans. these are your headlines from around the world. political turmoil in italy sending european shares lower. italian banks lead the downward mo move. china's weak export figures are weighing on sentiment. the unexpected decline signals continued pressure from abroad. >>> and meeting face-to-face, president obama and house speaker john boehner sit down for a one-on-one over the weekend with just weeks to go before the u.s. heads over the fiscal cliff. >> keeping an eye on italian third
so greece has its financing for next year. after that, it's a very big open question. >> bob parker from credit suisse, thank you so much for all your time and thoughts this morning. stick around. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on grou at fedex...
152
152
Dec 1, 2012
12/12
by
CNBC
tv
eye 152
favorite 0
quote 0
overlapping speakers ] >> last time we were on together you were saying the world was going to end because greece was going to default and leave the euro. it's all over. europe's fine. just give it a break. that was last year's story. [ overlapping speakers ] >> europe is not fine. spain is in significantly worse position. they've taken on more debt into deteriorating economy. you tell me how that translates to this has all been fixed and this is all solved. it's not solved at all. [ overlapping speakers ] >> spain has about the same debt to gdp ratio as germany. that good enough for you? >> [ overlapping speakers ] >> hang on, fellows. let's not get hung up on spain. what i want to come back to is the usa. because our market has not collapsed, it's really different than it looks like it was back in 2011. i just want to ask, is it better to own those low-rate bonds right now? or jim la camp, i want you both to weigh in quickly. is it better to own corporate bonds or treasury bonds during this tiff over the fiscal cliff, or is it better to own stocks? real quick. >> well, short term we're going to
overlapping speakers ] >> last time we were on together you were saying the world was going to end because greece was going to default and leave the euro. it's all over. europe's fine. just give it a break. that was last year's story. [ overlapping speakers ] >> europe is not fine. spain is in significantly worse position. they've taken on more debt into deteriorating economy. you tell me how that translates to this has all been fixed and this is all solved. it's not solved at all....
233
233
Dec 28, 2012
12/12
by
CNBC
tv
eye 233
favorite 0
quote 0
>> and there's this incredible chance that greece will leave and the dominos will begin to fall. i think that's unluikely to happen as long as the ecb is willing to support that currency, but will it thrive? will those economies boom? i don't think so, i think it will be another year of recession and you will find individual opportunities and the stock picker's market and far as it's a strong growth, they're not there yet. >> thanks so much for joining us. good to see you tonight. >> you heard piers morgan talk about it with larry last week. after school shooting massacre in scotland in 1996 great britain banned virtually all handguns, seized them from people who already owned them. piers says it worked great, except it didn't. you're about to find out just how badly it's turned out and why we in america should pay attention. people really love snapshot from progressive, but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to
>> and there's this incredible chance that greece will leave and the dominos will begin to fall. i think that's unluikely to happen as long as the ecb is willing to support that currency, but will it thrive? will those economies boom? i don't think so, i think it will be another year of recession and you will find individual opportunities and the stock picker's market and far as it's a strong growth, they're not there yet. >> thanks so much for joining us. good to see you tonight....
220
220
Dec 12, 2012
12/12
by
CNBC
tv
eye 220
favorite 0
quote 0
a league of its own. 7% like -- remember, the business is still majority in spain, italy, portugal, greece, et cetera. over 50% of sales. there 7% like for like. margins rising. it is a special company. >> taking a big -- are they taking a chunk of market share, as well? >> absolutely. i think it goes back to the strengths of its model. i think more than anyone else they listen to the consumer. this is fast fashion taken to the extreme. there's something new in the stores every two weeks. there's a reason to keep going every two weeks. they get feedback from the store managers quickly on what's working, what's not working. go back to the production people, say we need this more, we need less of this. >> the supply chain must be -- where are they making this stuff? how are they able to get it into the store so quick three is. >> about half of their production is in spain, portugal, and morocco. that's the secret really. unlike h&m et cetera who gave everything to the far east, inditex is doing quite a lot locally. that is the key challenge for them. as they get bigger and bigger, can they r
a league of its own. 7% like -- remember, the business is still majority in spain, italy, portugal, greece, et cetera. over 50% of sales. there 7% like for like. margins rising. it is a special company. >> taking a big -- are they taking a chunk of market share, as well? >> absolutely. i think it goes back to the strengths of its model. i think more than anyone else they listen to the consumer. this is fast fashion taken to the extreme. there's something new in the stores every two...
186
186
Dec 18, 2012
12/12
by
CNBC
tv
eye 186
favorite 0
quote 0
. >> did you see the s&p upgraded greece today by six notches? i had to hit the machine to make sure that was the correct number there. >> well, you know, a lot of volatility in rate. >> bob pisani, what do you think today? a pretty good real under way? all about the fiscal cliff? >> well, the markets, is bullish because the markets are acting like 2013 will resolve a lot of problems so we've multi-month highs in the stock market. we have the safe haven, gold and bonds just getting hit badly again. i mean, bond yields are moving up. gold is moving down on a day when the dollar is -- is weak today, so the markets are sort of acting like things are actually going to resolve themself. even now, maria, you might notice, the headlines out this afternoon aren't bullish. markets believe a deal is coming quickly. >> so do you guys. you don't have any necessarily different guidance or expectation or reports than we do, and you both are very much in step that a deal gets done what. if it doesn't? >> i kind of think what's going on right now is a little dan
. >> did you see the s&p upgraded greece today by six notches? i had to hit the machine to make sure that was the correct number there. >> well, you know, a lot of volatility in rate. >> bob pisani, what do you think today? a pretty good real under way? all about the fiscal cliff? >> well, the markets, is bullish because the markets are acting like 2013 will resolve a lot of problems so we've multi-month highs in the stock market. we have the safe haven, gold and...
175
175
Dec 7, 2012
12/12
by
CNBC
tv
eye 175
favorite 0
quote 0
look at wages in greece and now spain. wages in greece are down more than 25%. very painful, but we've heard about the pain already. what we haven't heard so much about is the competitiveness. >> enor husband costs with incredibly high unemployment rates. >> that i'm afraid is what's going on and that's extremely unpleasant. what i'm saying in terms of market action is we know about that, we're focused already on the unemployment, we're not focused on the wage improvement in competitiveness. >> all right giles, more to come from you you. also we'll hear from the stars of les mis about why the classic story will resonate with the current economic climate. and later in the program, we'll also hear from the nigerian finance minister about the resources boom. but you what about the corruption issue. and we'll also hear first from apple's new ceo tim cook about steve jobs' legacy and his future plans for the tech giant. plus of course we'll continue to keep you updated on the reaction and the latest dealings from the earthquake in japan. >>> a 7.3 magnitude earthquak
look at wages in greece and now spain. wages in greece are down more than 25%. very painful, but we've heard about the pain already. what we haven't heard so much about is the competitiveness. >> enor husband costs with incredibly high unemployment rates. >> that i'm afraid is what's going on and that's extremely unpleasant. what i'm saying in terms of market action is we know about that, we're focused already on the unemployment, we're not focused on the wage improvement in...
151
151
Dec 5, 2012
12/12
by
CNBC
tv
eye 151
favorite 0
quote 0
though there are problems in some territories in europe like italy and spain, greece, of course. there are other strong markets. again, this is a reason why china and russia and brazil and india have become so important at the global scenario. >> okay, we wish you all the best. have a great few days there in singapore. >>> the british chancellor executive george osborne is giving his autumn statement today. the chancellor has already dropped big hints about what we can expect. katie barnfield has gone up to man chester to see how the government's economic mandate is really playing well. >> reporter: earlier this week, the chancellor george osborne warned that although the uk's economic recovery will take longer than planned, it would be catastrophic if he put down his austerity measures now. but it is a catastrophe already here? manchester looks like a thriving city. but with the surrounding areas home to some of the most economically disadvantaged parts of the uk. rows of shops stand unused and the number of people claiming benefits has risen almost 70% since 2008. the uk's oppo
though there are problems in some territories in europe like italy and spain, greece, of course. there are other strong markets. again, this is a reason why china and russia and brazil and india have become so important at the global scenario. >> okay, we wish you all the best. have a great few days there in singapore. >>> the british chancellor executive george osborne is giving his autumn statement today. the chancellor has already dropped big hints about what we can expect....
272
272
Dec 26, 2012
12/12
by
CNBC
tv
eye 272
favorite 0
quote 1
no greece exit, no china hard landing and no u.s. slipping into a recession. therefore, the market has been able to lift. >> the last thing that may not happen is the fiscal cliff resolution, too. that could throw an iron in the fire. we've all got to be mindful of the possible debt downgrade. moody's and fitch are still at aaa and they have been rumbling they might take us down, and i think if s&p goes down a notch, mandy, that's not good for the market. >> the fact that these predictions did not come true i guess show that making predictions -- >> it shows the value of strategists. >> okay. >> it shows the value of vat jists. >> what are you predicting for 2013? >> i think you have to watch things in europe. the big day is the september 11th elections in germany and germany could be harder after the election. in the first half is the sent ceiling discussion and finally profits, personal income and production, if those can do better than the markets can lift but right now the view is for a nothing market from here till year end. once the seasonal increases go
no greece exit, no china hard landing and no u.s. slipping into a recession. therefore, the market has been able to lift. >> the last thing that may not happen is the fiscal cliff resolution, too. that could throw an iron in the fire. we've all got to be mindful of the possible debt downgrade. moody's and fitch are still at aaa and they have been rumbling they might take us down, and i think if s&p goes down a notch, mandy, that's not good for the market. >> the fact that these...
191
191
Dec 14, 2012
12/12
by
CNBC
tv
eye 191
favorite 0
quote 0
keeping greece in. >> and who were some of the past winners? what in your point of view is the most important criteria for picking person of the year? what is this supposed to represent? >> it's an important contribution to innovation. we've had receive jobs, for example, as person of the year. we earlier, five years ago, we had picked shawn claude trichet, the then president of the european central bank because he led the central bank response in 2001. so i think it's someone who has made a decisive, positive contribution to economic policy, public policy and that is probably why we wouldn't choose the north korean lead, who just let up a north korean missile this week. >> are there any regrets over choosing trichet now? >> i don't think so. he played an important role. we think mr. draghi has been somewhat bolder in his approach, notably through the money transactions which are designed to intervene in the bond market to reduce spreads where, in effect, speculators are betting on a break up of the eurozone, which is perhaps unnaturally raisin
keeping greece in. >> and who were some of the past winners? what in your point of view is the most important criteria for picking person of the year? what is this supposed to represent? >> it's an important contribution to innovation. we've had receive jobs, for example, as person of the year. we earlier, five years ago, we had picked shawn claude trichet, the then president of the european central bank because he led the central bank response in 2001. so i think it's someone who...
174
174
Dec 19, 2012
12/12
by
CNBC
tv
eye 174
favorite 0
quote 1
the big upgrade on greece. that's kind of strange, right? >> up four or five notches. >> i have to stand up for a second. $8. >> is it finally time? >> i want to click my heels, but these are soft reeboks. you wouldn't hear it. >> are we going to see that, finally, at last? >> the way people were coming on and saying it's going to zero. >> running for the exit. >> when was the euro dissolved and greece kicked out? what was the date? >> it happened just in reverse. >> it was overnight. >> we'll see. i can't believe 2013 will not hold a couple of moments where we go, ah. but it is amazing. nothing we can do. >> we're afraid spain is going to come -- spain was supposed to come to market. italy, oh, my, what happens when italy -- it turns out you had to take it down. i know that john corzine, very controversial figure. that's a code word. but what a trade they almost had. in the news again today. >> almost. >> horseshoes, hand grenades. >> we should point out, gm was certainly not having the easiest of times of it. this morning's stock is up sha
the big upgrade on greece. that's kind of strange, right? >> up four or five notches. >> i have to stand up for a second. $8. >> is it finally time? >> i want to click my heels, but these are soft reeboks. you wouldn't hear it. >> are we going to see that, finally, at last? >> the way people were coming on and saying it's going to zero. >> running for the exit. >> when was the euro dissolved and greece kicked out? what was the date? >> it...
193
193
Dec 18, 2012
12/12
by
CNBC
tv
eye 193
favorite 0
quote 0
selling 1.3 billion euros in three-month t-bills for greece. the bid to cover ratio, 1.73%. this allocation did include a 30% noncompetitive tranche. in other central bank news, it's been quite a busy day on that front. the central bank says use the repo rate holing at this level in the coming year warning the recovery is taking its toll on the economy. >>> and in australia, the rba eps's decision to lower rates appears to find a close one. central banks included keeping the rates on hold. still, policymakers were more concerned by more than expected slowdown in mining and investment. and japan's prime minister elect has told the country's central bank to consider adopt ago 2% inflation target. shinzo abe made the claim today. the bank is expected to cut borrowing costs at its rate setting meeting this week. steven, in light of all of this news, kind of goes back to the point that we were just making, that are a lot of central banks trying to use interest rates effectively as a way to depress the value of their currency even though we're seeing better signs in terms of the g
selling 1.3 billion euros in three-month t-bills for greece. the bid to cover ratio, 1.73%. this allocation did include a 30% noncompetitive tranche. in other central bank news, it's been quite a busy day on that front. the central bank says use the repo rate holing at this level in the coming year warning the recovery is taking its toll on the economy. >>> and in australia, the rba eps's decision to lower rates appears to find a close one. central banks included keeping the rates on...
324
324
Dec 3, 2012
12/12
by
CNBC
tv
eye 324
favorite 0
quote 1
it almost feels like they're talking about greece. people don't want to pay their taxes in greece and here you have all these people in america that are starting to complain about paying taxes on dividends. we're really just reverting to the levels we should be at a few years ago. we're out of vacation. let's go back to paying our taxes on our dividend peps. >> really strange, though. if a company is doing things like this, does it entice the shareholders to say, i'm getting my dif dennes and i'm not going to sell right after because i'm not getting any dividends next year? >> some of these companies are even borrowing in the debt market to pay these special dividends, which i think is a wrong thing to do. and i also kind of look at some of them and i wonder, why are they doing this? it seems like they're putting it shareholder first over their own company. shouldn't they put the money back into their own company, hire people, grow organically? >> if it's dividends you were going to pay out, anyway -- i don't know. i'm arguing both si
it almost feels like they're talking about greece. people don't want to pay their taxes in greece and here you have all these people in america that are starting to complain about paying taxes on dividends. we're really just reverting to the levels we should be at a few years ago. we're out of vacation. let's go back to paying our taxes on our dividend peps. >> really strange, though. if a company is doing things like this, does it entice the shareholders to say, i'm getting my dif dennes...
220
220
Dec 31, 2012
12/12
by
CNBC
tv
eye 220
favorite 0
quote 0
need to look at larger solutions to our problems so we don't end up in the situation europe is, or greece with riots, or france with a top 75% tax rate that's driving people offshore. >> the problem may be that paul ryan coming through with solid plans on the deficit issue, and ultimately didn't win the white house. is it possible to have the conversation with america get voted in, and then take action? >> personally, i think the ryan plan was an abomination, because it was so vague, that you can't tell whether it was a real plan or not. >> it was not vague. it was written down in the house budget. >> it is absolutely unspecified across all kinds of loophole closings and other things, which makes it filed under category of fiction for anybody that's ever worked in the united states senate. >> specifically it's written specifically in the path to prosperity. it was passed by the house. you can look at path to prosperity in google. you see many of the details. at least the house passed a budget, which the senate has not done for the past three years. the house has laid out solutions. also,
need to look at larger solutions to our problems so we don't end up in the situation europe is, or greece with riots, or france with a top 75% tax rate that's driving people offshore. >> the problem may be that paul ryan coming through with solid plans on the deficit issue, and ultimately didn't win the white house. is it possible to have the conversation with america get voted in, and then take action? >> personally, i think the ryan plan was an abomination, because it was so...
249
249
Dec 12, 2012
12/12
by
CNBC
tv
eye 249
favorite 0
quote 0
. >> they can buy stuff and go back on vacation in greece and all that stuff. >> do we count -- i'm getting -- there's nothing like this to get the twitterers going wild. 1-1-1 is -- 1-1-2001 -- >> 2001? >> yeah. >> yeah? >> 2101. >> yeah? >> less than -- >> you got a zero in there. >> less than 100 years. >> but it's 1-1-1 -- >> but 01 you'd write it probably. >> you would want to get to ten 10-10-10. 10-10-2110. i had someone call me dummy and say -- >> you? >> yeah. said it's 988 years. then he called me a dummy. i tweeted back to the guy, i'm the dummy? i'm the dummy? 988 years? i'm the dummy? the fed is meeting today -- i admit it, i resemble that remark. you're with me, pal. the fed is meeting to discuss whether operation twist will expire at the end of the month. and jerry webman is here. >> i showed up. >> chief economist. >> and union member. >> a unionyist. >> honorary union member. so is leaseman actually. maybe you can -- >> the president -- >> maybe -- you probably with -- >> workers fly i guess. we are strong, solid, more than ever. >> you probably need protection. >> probably
. >> they can buy stuff and go back on vacation in greece and all that stuff. >> do we count -- i'm getting -- there's nothing like this to get the twitterers going wild. 1-1-1 is -- 1-1-2001 -- >> 2001? >> yeah. >> yeah? >> 2101. >> yeah? >> less than -- >> you got a zero in there. >> less than 100 years. >> but it's 1-1-1 -- >> but 01 you'd write it probably. >> you would want to get to ten 10-10-10. 10-10-2110. i...
142
142
Dec 5, 2012
12/12
by
CNBC
tv
eye 142
favorite 0
quote 0
greece fell. how did the u.s. do? not so great. 19th place out of 176 countries scoring just 74 points out of 100. canada, germany, hong kong did better. it looks like improvement over last year's 24th place finish, it has changed methodology this year so year to year comparisons don't work. fighting corruption has not been a top priority in this country although the financial crisis is focused more attention on the issue that accounts for improvement. a couple of oil rich countries that we profiled earlier this year are among the most corrupt in the world. ranks 139th out of 176 countries and the tiny west african nation whose forestry manager finishes 163rd. you can find out more about them in an encore showing of our documentary filthy rich tomorrow night at 8:00 p.m. eastern on cnbc and more about this year's rankings of corrupt countries at cnbc.com. >> interesting, scott. especially when you look at some of these companies that are now embroiled with foreign practices act. if you were going to do business around
greece fell. how did the u.s. do? not so great. 19th place out of 176 countries scoring just 74 points out of 100. canada, germany, hong kong did better. it looks like improvement over last year's 24th place finish, it has changed methodology this year so year to year comparisons don't work. fighting corruption has not been a top priority in this country although the financial crisis is focused more attention on the issue that accounts for improvement. a couple of oil rich countries that we...
227
227
Dec 20, 2012
12/12
by
CNBC
tv
eye 227
favorite 0
quote 0
. >> draco was a greek legislator, the first legislator of athens in ancient greece. and he replaced the prevailing system at the time of oral, law and blood feud by a written code of rules that could only be enforced by a court. the first court system. so the rules, because they were written, were hard to get around so they were draconian rules, which is where draconian -- draco. >> wasn't he in harry potter, too? >> he was also in harry potter. i don't know.was he? >> i think he was the bad kid growing up. >> and, anyway, with that out of the way and the world hurdling to an end tomorrow, still to come, if you want to know whether or not you should be optimistic about a fiscal cliff deal -- >> oh, draco malfoy. >> oh, yeah, the young bad kid? >> the blond kid. >> he was so good he was bad. check out the markets on any given day and we're going to do just that. tell what's happening with the fiscal cliff. [ penélope ] i found the best cafe in the world. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perfect coffee. wher
. >> draco was a greek legislator, the first legislator of athens in ancient greece. and he replaced the prevailing system at the time of oral, law and blood feud by a written code of rules that could only be enforced by a court. the first court system. so the rules, because they were written, were hard to get around so they were draconian rules, which is where draconian -- draco. >> wasn't he in harry potter, too? >> he was also in harry potter. i don't know.was he? >>...
286
286
Dec 10, 2012
12/12
by
CNBC
tv
eye 286
favorite 0
quote 1
so the top performer is greece, up 24%, and we know how that economy is crashing. the bottom performer, or one of them is china. which even today is down 5% year-to-date, even though it is growing at the rate that it is. what does that mean for 2013? do you get a snapback, or are the central banks driven a big wedge between reality and stock market performance? >> i think that's a great question. you know, i think over the past few years, indeed, china's equities have been pretty week, especially in the asia market as you mentioned. i don't think that's necessarily because of a lot of cyclical disappointment. certainly that hasn't helped. but in reality, i think the earnings have not been so bad until this year, it was actually the valuation that kept seeing further and further compression. i think that's coming from people's concerns about the structural problems in china getting bigger. therefore, whatever level gdp growth was seeing today, or earnings growth, people think it's not sustainable going into the future. in 2013, we don't have any assurances that this
so the top performer is greece, up 24%, and we know how that economy is crashing. the bottom performer, or one of them is china. which even today is down 5% year-to-date, even though it is growing at the rate that it is. what does that mean for 2013? do you get a snapback, or are the central banks driven a big wedge between reality and stock market performance? >> i think that's a great question. you know, i think over the past few years, indeed, china's equities have been pretty week,...
266
266
Dec 7, 2012
12/12
by
CNBC
tv
eye 266
favorite 0
quote 0
one is greece, one is italy. the developments today are both good from an american investing perspective because they keep a lid on what's happening in those two respects. in greece there was trouble on the streets of athens last night as a result of left-wing protesters and students out and police using tear gas to disperse them as they protested the death of a teenager as a result of a police shooting four years ago, but the more important thing from a market perspective is that in 30 minutes' time now, the book will close on the greek debt buyback. now, remember what's happening here. the greek government is borrowing 10 billion euros from the rest of europe to buy back its own debt at a discount. if it does that successfully, by midday our time when that book closes, then more cash will flow through from the rest of europe, possibly next week it will be able to repay its bills and capitalize on the banks. let's check the close. >> the european markets are closing now. >> so we kind of went nowhere today. a lo
one is greece, one is italy. the developments today are both good from an american investing perspective because they keep a lid on what's happening in those two respects. in greece there was trouble on the streets of athens last night as a result of left-wing protesters and students out and police using tear gas to disperse them as they protested the death of a teenager as a result of a police shooting four years ago, but the more important thing from a market perspective is that in 30...
270
270
Dec 10, 2012
12/12
by
CNBC
tv
eye 270
favorite 0
quote 1
we can have it all forever, like greece. >> we're not greece. and that's the whole point. neither is britain which is pretending its greece, and look where it's getting them. britain's not growing at all. >> would you do some stimulus? >> i probably would, yeah. >> what kind? >> there's a ton of infrastructure that needs to be done in this country. >> then do it. and borrow money -- >> it's free. we can borrow money for free for 30 years in real terms. the market is not telling the u.s. to tighten fiscal policy. it's telling the u.s. to borrow some money. >> can you make sure we only do things -- we're not going to fill high speed rail lines between cities no one wants to travel to? >> if you spend a billion dollars i can't guarantee that every last cent of it is going to be spent properly. >> how moan solyndras will be in that balance? >> only two. >> you have to deal with the issues that krugman never deals with. i love the explanation we should spend spend spend. what happens when interest rates rise? two is you're talking about trillion dollar deficits as far as the ey
we can have it all forever, like greece. >> we're not greece. and that's the whole point. neither is britain which is pretending its greece, and look where it's getting them. britain's not growing at all. >> would you do some stimulus? >> i probably would, yeah. >> what kind? >> there's a ton of infrastructure that needs to be done in this country. >> then do it. and borrow money -- >> it's free. we can borrow money for free for 30 years in real terms....
214
214
Dec 17, 2012
12/12
by
CNBC
tv
eye 214
favorite 0
quote 0
they basically said to me, hmm we're not concerned about greece. we're not concerned about the economy. why don't you have these put calls they're really almost for free. we bought puts so we didn't have a loss in that drawdown. then we listen again. and we didn't have to -- again, we don't have to be that smart. okay. we're not that smart. again, we get into the next time, and draghi is talking about this, that the other, talking about this put and boy he did. he gave away this put. people not listening to it. you know what we did when we heard about that? we got invested. and that worked too. then we got into this election and said boy doesn't look like the market is going to be happy about this election, because obama is going to win. whether or not that was right or wrong, and they're going toish concerned about the fiscal cliff. we took down our position again. now when the market went down again, we said, okay, what are we going to do now? hmm, they're giving away call puts. call premium now. call premium traded really cheap. what should we d
they basically said to me, hmm we're not concerned about greece. we're not concerned about the economy. why don't you have these put calls they're really almost for free. we bought puts so we didn't have a loss in that drawdown. then we listen again. and we didn't have to -- again, we don't have to be that smart. okay. we're not that smart. again, we get into the next time, and draghi is talking about this, that the other, talking about this put and boy he did. he gave away this put. people not...
247
247
Dec 11, 2012
12/12
by
CNBC
tv
eye 247
favorite 0
quote 1
greece is higher. por sh gal is higher. spain is higher. it's a good day for -- investor sentiment.strongly it was revealed today. optimism over what the fed is going to do in the united states tomorrow. optimism there will be a deal on the fiscal cliff. you have optimism that the recapitalization of the banks is going to be delayed by another year according to the bank of italy. and you have optimism as well on mar of election promises as we now face the pros wekt of a much earlier election in italy. to that end it is fascinating. sylvia berlusconi has come out today warning about the germano center of politics. in other words, too much of a focus on what is happening from germany and the austerity inspired by angela merkel. in particular, he is drawing attention to this. which is the spread of the extra that investors demand to hold italian bonds over german bonds. i've shown this to you a couple times. over the last year it's been a mainstay of a lot of the italian business broadcasts internally. they say our bonds are currently trading
greece is higher. por sh gal is higher. spain is higher. it's a good day for -- investor sentiment.strongly it was revealed today. optimism over what the fed is going to do in the united states tomorrow. optimism there will be a deal on the fiscal cliff. you have optimism that the recapitalization of the banks is going to be delayed by another year according to the bank of italy. and you have optimism as well on mar of election promises as we now face the pros wekt of a much earlier election in...
199
199
Dec 18, 2012
12/12
by
CNBC
tv
eye 199
favorite 0
quote 0
if we keep this up, by the time we get to 2020, we're going to be in the shape greece is in with 152% of our gdp being locked into debt. we cannot sustain this. you have to begin to make some systematic across the board and detailed reductions in this spending discretionary and on the entitlement and you have to deal with the trust funds and treat them as trust funds, not as pass-throughs to the general fund. >> congresswoman, thank you very much. i know it's a busy day. >> it is. thank you. >> congresswoman blackburn. >>> steve liesman is working on this since late last night. at the very least, steve, it's high theater, wouldn't you agree? >> high theater and complex math, carl. what we want to do is concentrate on what i market really cares about. how far apart are the sides? unfortunately, it is so complicated we can only do one piece at a time. so we're only in this presentation going to talk about revenue, not spending. and i have to say, these are the best available numbers? are they the actual numbers? we have only run them by each side and they have said that they are not far
if we keep this up, by the time we get to 2020, we're going to be in the shape greece is in with 152% of our gdp being locked into debt. we cannot sustain this. you have to begin to make some systematic across the board and detailed reductions in this spending discretionary and on the entitlement and you have to deal with the trust funds and treat them as trust funds, not as pass-throughs to the general fund. >> congresswoman, thank you very much. i know it's a busy day. >> it is....
190
190
Dec 20, 2012
12/12
by
CNBC
tv
eye 190
favorite 0
quote 0
harry, during one of the breaks, talking about greece. you had an unconventional view, i think, of what's going on there. >> still tons of issues, major risks but i think finally some signs after five years of decline, it is starting to bottom. first, the eu demonstrated they will do anything to keep power, partly because he has made some progress and partly because the alternatives are scarry. finally seeing improvements in the budget deficit numbers. >> you are buying stuff? >> looking at stuff. finally start to see investors move in 2013. already seen government bonds in 2012 and i think you will see asset sales. >> you agree? you remember your name before -- >> that does it for us today. make sure you join us tomorrow. right now, time for "squawk on the street." >>> good morning, welcome to squawk on the street. i'm carl quintanilla, melissaly, jim cramer. nyse euro net selling itself to ice for 8.2 billion in cash and stock. david is here to break it down. >> go through some of the numbers four. the deal itself having been officially
harry, during one of the breaks, talking about greece. you had an unconventional view, i think, of what's going on there. >> still tons of issues, major risks but i think finally some signs after five years of decline, it is starting to bottom. first, the eu demonstrated they will do anything to keep power, partly because he has made some progress and partly because the alternatives are scarry. finally seeing improvements in the budget deficit numbers. >> you are buying stuff?...
215
215
Dec 12, 2012
12/12
by
CNBC
tv
eye 215
favorite 0
quote 1
now in brussels, a finance ministers' meeting is beginning, which they will say, look, greece, we will make up the half billion that you're short on the bond buy-back. a deal is a deal. and this month, 34 billion euros will flow from bailout funds into the greek banks to recapitalize them. more importantly perhaps, tomorrow we go into a full meeting of all 27 heads of state of the european union. germany is back down. looks like we have a deal on banking union. the ecb will supervise all banks presumably in the euro zone. that means the ecb will be able to directly tap into those bailout funds and recapitalize the banks, plugging in across the euro zone. this is hugely important in building those firewalls against contagion. the result of the stock market is that you continue to get gains. the top 50 blue chips in europe is the white line. the dow jones industrial average is the yellow. this is a chart since the results of the election. as we are mired in the fiscal cliff here, they've been able to make almost 4% gains on their top blue chips. meanwhile, also worth mentioning that, aft
now in brussels, a finance ministers' meeting is beginning, which they will say, look, greece, we will make up the half billion that you're short on the bond buy-back. a deal is a deal. and this month, 34 billion euros will flow from bailout funds into the greek banks to recapitalize them. more importantly perhaps, tomorrow we go into a full meeting of all 27 heads of state of the european union. germany is back down. looks like we have a deal on banking union. the ecb will supervise all banks...
202
202
Dec 5, 2012
12/12
by
CNBC
tv
eye 202
favorite 0
quote 0
bank participation is considered crucial for greece's efforts to resolve the financial problem. >>> and the european union has fined tv and computer monitor makers about $2 billion saying those companies fixed monitor tube prices for a decade which ended in 2006 talking about companies like philips, lg, and panasonic among the companies fined. philips, which was assessed the biggest chunk of the penalty says it will appeal the ruling. >>> and mortgage applications rose 4.5% last week according to new figures from the mortgage bankers association. most of the increase was accounted for by a rise in refinancing activity. >>> all right. the dollar hitting a six-week low on uncertainty about whether a budget deal would be reached. meantime, oil continues to trade below $90 a barrel. joining us this morning, chief market strategist at worldwide markets. also kevin book who is managing director at clear view energy partners. and joe, let's start off talking about the dollar. i can't make heads or tails of why the dollar is under so much pressure. i know things are bad here, we're worried abou
bank participation is considered crucial for greece's efforts to resolve the financial problem. >>> and the european union has fined tv and computer monitor makers about $2 billion saying those companies fixed monitor tube prices for a decade which ended in 2006 talking about companies like philips, lg, and panasonic among the companies fined. philips, which was assessed the biggest chunk of the penalty says it will appeal the ruling. >>> and mortgage applications rose 4.5%...
179
179
Dec 13, 2012
12/12
by
CNBC
tv
eye 179
favorite 0
quote 0
the eu finance ministers' plan to give money to greece, will the rally continue? todd gordon is with us aspen trading you. morning to you, todd. >> hey, simon. >> we have failed twice to get through 1.31 on the euro. where do we go from here? >> the fourth time we tried? the euro support and european finance ministers rather busy, appoint the ecb to head up a eu banking regulation which unfortunately you won't take effect until march 2014. the meantime we need to rely on esm for support. the other side, german finance minister wrote off the lower bank, congress that they approve a greek aid bailout. looks to be euro fairly support. >> interesting you argue that. in is the point here that the fed is accelerating on debasing you the dollars, that is why the euro rises? >> really interesting. that was the trade yesterday. the take away from the fed's statement. we reached a new high in qe 4, 85 billion a month, purchased and treasuries and mds that put the dollar to heel. overnight, reaction to the fed, overnight you can the dollar stayed very offered and i think des
the eu finance ministers' plan to give money to greece, will the rally continue? todd gordon is with us aspen trading you. morning to you, todd. >> hey, simon. >> we have failed twice to get through 1.31 on the euro. where do we go from here? >> the fourth time we tried? the euro support and european finance ministers rather busy, appoint the ecb to head up a eu banking regulation which unfortunately you won't take effect until march 2014. the meantime we need to rely on esm...
203
203
Dec 31, 2012
12/12
by
CNBC
tv
eye 203
favorite 0
quote 0
on in terms of labor reform in the likes of portugal, ireland, some even to some degree in spain and greece. and that wouldn't have happened without the pressure in the markets. >> obviously. jim, we want to thank you very much for calling in on this new year's eve and wish you a happy 2013 to you, as well. >> happy new year's to you guys. good luck to you. >> things. >>> coming up, we're going to calm to some politicians and congress people. we have shelly moore-capito and congressman greg meeks of new york will join us on the show to talk about the biggest sticking points. at the top of the hour, vice chairman and republican policy committee chairman tom price will be our special guest. "squawk box" coming right back. this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. impact wool exports from new zealand, textile production in spain
on in terms of labor reform in the likes of portugal, ireland, some even to some degree in spain and greece. and that wouldn't have happened without the pressure in the markets. >> obviously. jim, we want to thank you very much for calling in on this new year's eve and wish you a happy 2013 to you, as well. >> happy new year's to you guys. good luck to you. >> things. >>> coming up, we're going to calm to some politicians and congress people. we have shelly...
252
252
Dec 27, 2012
12/12
by
CNBC
tv
eye 252
favorite 0
quote 1
. >> greece will stain the euro in 2013. that's what lang merkel wants and she's holding the purse strings. she wants to be re-elected and doesn't want any cost of contagion in. the cost on a relative basis is cheap. mexico is the next hot market. almost unnoticed, our southern neighbor becoming an economic stronghold on its own. legal and financial reforms have led to a growing middle class. as china gets more expensive, mexico becomes more competitive in manufacturing. africa disappoints classic emerging markets of russia, brazil and china slow down from their heyday and so-called frontier funds have been started with a focus on the next hot growth area, focusing on africa and many believe now is the time. this is an overgeneralization. the rule of law is not widespread enough in the continent. there is a glimmer of hope such as sun nish sha. countries such as egypt still questionable. we have seen mass rioting there and growing concerns whether the new rule of law and new constitution will effectively protect investors. >
. >> greece will stain the euro in 2013. that's what lang merkel wants and she's holding the purse strings. she wants to be re-elected and doesn't want any cost of contagion in. the cost on a relative basis is cheap. mexico is the next hot market. almost unnoticed, our southern neighbor becoming an economic stronghold on its own. legal and financial reforms have led to a growing middle class. as china gets more expensive, mexico becomes more competitive in manufacturing. africa...
319
319
Dec 14, 2012
12/12
by
CNBC
tv
eye 319
favorite 0
quote 0
the current top tax rate in greece is 45% for those earning more than 100,000 euros. finally, business sentiment in europe is slumping in part due to economic uncertainty ahead of this weekend's election. the bank of japan sentiment index dropping to minus 12 from minus 3 in the prior quarter. that was a bigger drop than economists were expecting. mr. kernen? >> all right. getting all these things. so you like he's like bloomberg? no 16 ounce -- >> guy runs -- >> you know. >> no 16 ounce anything over that in sugared drinks. comments, questions about anything you see here on "squawk," e-mail us at squawk @c in.com. you can also follow us on twitter @squawkcnbc. still to come this morning, john mcafee. in the flesh. well he won't be here but on camera. in his first interview since arriving back in the states. an interview you've got to see. plus. have you seen these? want to know how to use them? one of the new ways retailers are hoping to win over consumers. we're going to explain qr codes. the bar code guy died yesterday. can i help you? i heard you guys can ship gro
the current top tax rate in greece is 45% for those earning more than 100,000 euros. finally, business sentiment in europe is slumping in part due to economic uncertainty ahead of this weekend's election. the bank of japan sentiment index dropping to minus 12 from minus 3 in the prior quarter. that was a bigger drop than economists were expecting. mr. kernen? >> all right. getting all these things. so you like he's like bloomberg? no 16 ounce -- >> guy runs -- >> you know....